Tavan Tolgoi shares will be owned soon
Ulaanbaatar, Mongolia, /MONTSAME/ "Tavantolgoi deposit, Tavantolgoi project" introduction meeting has been run by a set up by the Government working group, State property committee and "Erdenes MGL" LLC to inform about works related to Tavan tolgoi, a strategically important coal deposit.
According to them, Tavan tolgoi is one of the biggest coking coal deposits in the world, being at first exploitation stage. Its recourses are some six billion tons, of which coking coal accounts for 1.4 billion tons. If to calculate by internationally common methods, the recourses may increase, they say.
In October last year, the Government issued a resolution to establish "Erdenes-Tavantolgoi" LLC as a branch of the "Erdenes MGL" LLC. Now the "Erdenes-Tavan tolgoi" has some 15 billion shares, a half of which is to be owned by Mongolia's citizens and entities, to be sold at domestic and foreign stock exchanges in 2011 in several stages, said First Deputy Premier N.Altankhuyag.
In the first quarter of 2011, all Mongolians will own ten percent of these shares, other ten percent will be sold to the entities at nominal price, a head of Government office Ch.Khurelbaatar said.
An open tender has been annouced to choose a company-operator to work on the "Erdenes TT"'s mine Tsakhi, a part of the Tavantolgoi. This year is the main period to exploit the Tavan tolgoi deposit, to mine and export 2-3 million tons of coal, create finance for the project, draw the "Erdenes TT" to domestic and foreign exchange stocks, work with international banks, advisers, construct water supply and concentrating plants, erect town for miners, and to have power station and auto roads work, he went on.
B.Oyundelger
According to them, Tavan tolgoi is one of the biggest coking coal deposits in the world, being at first exploitation stage. Its recourses are some six billion tons, of which coking coal accounts for 1.4 billion tons. If to calculate by internationally common methods, the recourses may increase, they say.
In October last year, the Government issued a resolution to establish "Erdenes-Tavantolgoi" LLC as a branch of the "Erdenes MGL" LLC. Now the "Erdenes-Tavan tolgoi" has some 15 billion shares, a half of which is to be owned by Mongolia's citizens and entities, to be sold at domestic and foreign stock exchanges in 2011 in several stages, said First Deputy Premier N.Altankhuyag.
In the first quarter of 2011, all Mongolians will own ten percent of these shares, other ten percent will be sold to the entities at nominal price, a head of Government office Ch.Khurelbaatar said.
An open tender has been annouced to choose a company-operator to work on the "Erdenes TT"'s mine Tsakhi, a part of the Tavantolgoi. This year is the main period to exploit the Tavan tolgoi deposit, to mine and export 2-3 million tons of coal, create finance for the project, draw the "Erdenes TT" to domestic and foreign exchange stocks, work with international banks, advisers, construct water supply and concentrating plants, erect town for miners, and to have power station and auto roads work, he went on.
B.Oyundelger
Comments
Post a Comment